zSpace, Inc (NASDAQ:ZSPC) Sees Significant Drop in Short Interest

zSpace, Inc (NASDAQ:ZSPC) was the recipient of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 433,764 shares, a decline of 35.6% from the January 15th total of 673,161 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average daily volume of 1,017,528 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 1,017,528 shares, the days-to-cover ratio is presently 0.4 days. Currently, 3.4% of the company’s shares are sold short.

zSpace Stock Up 4.3%

ZSPC stock opened at $0.26 on Friday. zSpace has a 52 week low of $0.24 and a 52 week high of $26.79. The stock has a market capitalization of $8.79 million, a P/E ratio of -0.33 and a beta of -0.55. The firm has a 50-day simple moving average of $0.47 and a 200-day simple moving average of $1.07.

zSpace (NASDAQ:ZSPC) last issued its earnings results on Thursday, November 13th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.06). The company had revenue of $8.79 million for the quarter, compared to analysts’ expectations of $8.43 million.

Institutional Trading of zSpace

Several institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in zSpace during the third quarter worth $25,000. HRT Financial LP purchased a new position in zSpace during the fourth quarter worth $27,000. XTX Topco Ltd acquired a new position in zSpace in the 2nd quarter valued at about $39,000. Geode Capital Management LLC lifted its stake in shares of zSpace by 134.0% during the fourth quarter. Geode Capital Management LLC now owns 119,014 shares of the company’s stock valued at $56,000 after buying an additional 68,150 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of zSpace during the fourth quarter worth $57,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen cut zSpace from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Barrington Research dropped their price objective on shares of zSpace from $5.00 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of zSpace in a research report on Wednesday, January 21st. Finally, Northland Securities downgraded shares of zSpace from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

About zSpace

zSpace, Inc is a technology company that develops augmented and virtual reality solutions designed to deliver immersive learning experiences. Headquartered in Pleasanton, California, the company focuses on integrating advanced 3D visualization hardware and interactive software to support science, technology, engineering and mathematics (STEM) education, as well as professional training applications.

The company’s flagship offering, the zSpace AR/VR system, combines a stereoscopic display, stylus-based interaction and head-tracking technology to enable users to manipulate and explore three-dimensional models.